How to trade cryptocurrency in Belarus and is it legal?
I've heard more than once that cryptocurrency is banned in Belarus and that if you perform any transactions with this asset, your bank account will be blocked.
This statement is true, but only partially true. In reality, things aren't so dire if you understand Decree No. 367 "On the Circulation of Digital Signs (Tokens)," which currently regulates cryptocurrencies in the Republic of Belarus.
Based on this decree, the circulation of cryptocurrencies is not prohibited at all; all transactions with cryptocurrencies must be carried out through the "Residents of the High-Tech Park."
This means that you can only buy and sell cryptocurrency in the Republic of Belarus through companies listed on this list – Residents for Cryptocurrency Trading in the Republic of Belarus .
There are ten similar companies today:
- AimEx Global
- Alterpay
- Brightum
- Dzengi
- Dzengi Com
- State Fiscal Service
- ERPBEL
- Pixel Internet
- White Bird
- Finex
If you need real cryptocurrency or want to sell existing tokens, it's recommended to conduct all transactions through these companies. This is because bank accounts are frozen if funds are sent to a crypto exchange address or deposited into your account after selling crypto.
How to trade cryptocurrency in Belarus without unnecessary formalities
It's a different matter if you don't need cryptocurrencies for payments, but simply want to make money on the change in the Bitcoin or other coin exchange rate.
In this case, everything is much simpler, since it is possible to trade cryptocurrency without receiving it in your wallet, but simply by opening a buy or sell transaction with one of the brokers.
This method has many advantages. Firstly, you don't violate existing laws, and secondly, specialized brokerage companies have much lower commissions than high-tech park residents.
To start earning money on cryptocurrencies, you will need to open an account with one of the cryptocurrency brokers .
Then, download the free software and top up your account with the required amount. You won't have to worry about your account being blocked after you withdraw your profits to your bank account.
You will find all the necessary information on this issue in the section – Cryptocurrency Trading
